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The XBRL-Enabled WorldJune 29th, 2010 by Stewart McKie - Executive Advisor
Our VP of Business Technology, Emily Huang, asked me to write something about the XBRL-Enabled World. So I thought I could go one better and try to visualize it. My first (starter) attempt at doing this can be found here. I’ll add more content and functions over the next month. Thanks to Conor O’Kelly for his XBRL Country Updates (April 2010) which was used as the content basis for this visualization.  xbrl-world The Sustainability StreamJune 28th, 2010 by Stewart McKie - Executive Advisor
Bob Schneider over at Hitachi has posted a useful article on the corporate actions taxonomy being worked on by the DTCC, SWIFT and XBRL US that references their interesting and thorough document - A Business Case to Improve Corporate Actions Communications. But when I read the post and the document it just makes me wonder – why is it only actions that “impact a security that has been traded, cleared, and settled on behalf of the investor” that are reported? What about all the actions that evidence the sustainability behaviour of a business and therefore have an impact on the environmental, social and governance (ESG) profile of the organization? Read the rest of this entry » Tactical TaxonomiesJune 25th, 2010 by Stewart McKie - Executive Advisor
Many of you who have followed the progress of XBRL for over a decade are probably wondering: when is it going to be used to deliver a key benefit that was identified right from the start – improved control over internal reporting? Today we are stuck on compliance and control looks a long way off, let alone communication. What’s holding back the use of XBRL for internal reporting? Well I think I know the answer. It’s taxonomies or more precisely taxonomy shock. Read the rest of this entry » MashboardsJune 17th, 2010 by Stewart McKie - Executive Advisor
Reading an old Business Finance article I wrote over a decade ago called Portal to the Future got me thinking that maybe the future of ‘integrated’ or ‘connected’ reporting is not about reports at all but about ‘mashboards’. I wish I’d coined that term but I didn’t. Mashboards are the portals of today, dashboards that mashup data from inside and outside the corporate firewall to help make the connection between financial performance, corporate behaviour and stakeholder feedback. Mashboards are visual, web-based and indicator-driven portals that combine financial data with Google maps and Flickr photos and Twitter tweets – they mashup the financial, social and environmental information to present a more holistic view of what a business is doing. So perhaps all this talk of sustainability ‘reporting’ is misplaced, outdated and irrelevant if the portal to the future is really the mashboard. BP and Impact ReportingJune 17th, 2010 by Stewart McKie - Executive Advisor
Being a Brit in Louisiana right now probably feels like being a Brit in a Mel Gibson movie. The environmental disaster in the Gulf of Mexico has made a villain of British Petroleum, hammering their stock price, damaging their reputation and surely lowering the morale of their employees, many of them hard-working Americans. There are undoubtedly many lessons to be learned from this tragedy and one of them is the importance of impact reporting. Read the rest of this entry » “What is XBRL?” educational webinar tomorrow!June 16th, 2010 by Rivet Software
Today is the last day to sign up for our free educational webinar about XBRL! Learn about the benefits of XBRL, what you are required to do as an XBRL filer, and how to best prepare for the mandate. Sign up today!
XBRL as Platform (2)June 15th, 2010 by Stewart McKie - Executive Advisor
As an an addendum to my recent post that defines XBRL as a data platform, I’d like to make that proposition even clearer with the help of a simple diagram to illustrate the components that make up this platform in the context of U.S. S.E.C. filings. Read the rest of this entry » Hey Cloud Crowd – Let’s Create a World Cup TaxonomyJune 13th, 2010 by Stewart McKie - Executive Advisor
I should have thought of this before but developing taxonomies doesn’t have to take years and involve international committees. Anyone can do it. So let’s develop a World Cup taxonomy. For example… Key fact is ‘goal’ and elements are: match e.g. England vs. USA scorer e.g. Gerrard team e.g. England What else can we add? Time? Goalkeeper? Penalty/Non-Penalty? Stage of competition? Taxonomies don’t have to be hard or have thousands of elements or be all about finance. Goal!!! Spain Scores with XBRL Sustainability ScorecardJune 11th, 2010 by Stewart McKie - Executive Advisor
It’s June 30th 2010. Never mind the Copa del Mundo. Today Spain scored a big goal for XBRL with the launch of their Social Responsibility Scorecard. ( GOOOAAALLL!!! – imagine some nutcase running around a pitch with their soccer shirt over their head showing off a chest tattoo that says: I love you Mum…) Or at least I hope they will. Otherwise this post anticipating the event will look rather lame. If not blame Alejandro at the Spanish Association of Accounting and Business Administration (AECA) since he gave me the headsup For more on this key event in the world of XBRL-driven sustainability reporting, come back to the blog on June 30th. XBRL as PlatformJune 11th, 2010 by Stewart McKie - Executive Advisor
I don’t often go off on a bender on this blog – I reserve that for my Friday night curry and cider binge. But here I’m going to noodle a bit about XBRL as a platform. For those of you who are already lost (e.g. Fashionistas – But, like, how can XBRL be on the bottom of my shoes?) here’s my definition of a platform in software industry terms:
So in this post, I’m going to outline the history of platforms in order to get to my point: that XBRL is a platform too. Read the rest of this entry » |
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